ISEQ endures massive slump

The value of Irish shares plummeted by 2.40% in morning trading today, as the ISEQ index dropped 196.79 points to 7985.97 by midday today.

The financials had another torrid time, with both Allied Irish Bank and Irish Life & Permanent haemorrhaging 50c to €17.18 and €16.17 respectively. Their competitors did not do much better, as Bank of Ireland shed 42c to €12.70, with Anglo Irish Bank falling 34c to €12.83.